Bitcoin prices are done! Steem prices are going down! Ethereum prices are going done! All crypto-currencies are hurting. No matter how diversified your crypto-currency portfolio is, you might be panicking and wonder, just what on earth is happening?
There are several factors accounting for the price crash of crypto-currencies, however we would discus just a few.
The main cause of reason why Bitcoin and alt-coin prices are going down is due to the challenges currently faced by Bitcoin and Ethereum, the two main major crypto-currencies.
There are several technical challenges facing Bitcoin and many believe a proposal call SegWit2x would address most of its challenges.
SegWit2x activation would begin on August 1 with the activation of SegWit, however due to opposition from some of Bitcoin's core developers there are fears there would be a civil war which could result in a split, a bugged upgrade or even the destruction of the network.
The fears of the potential negative outcomes of 1st August is what has caused its price to crash as most investors are diversifying in an attempt to hedge their funds from any possible naughty outcomes of August 1.
Like Bitcoin, Ethereum is also facing several challenges which include:
These challenges have cause investors' confidence in Ethereum to waver as they look forward to invest into new competitors which have the promised to address the challenges facing Ethereum.
Read more about the upcoming Bitcoin civil war in our special report:
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